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/biz/ - Business & Finance

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5760123 No.5760123 [Reply] [Original]

>tell my mom about my sub-1k crypto investments
>"THE IRS IS GONNA CATCH UP TO YOU, THEY'RE GONNA FIND A WAY AND TAX YOU, IT DOESN'T MATTER THAT IT'S DIGITAL, IT'S NEGOTIABLE VALUE AND THESE ARE CAPITAL GAINS"

>> No.5760145

>>5760123
I feel you, this is exactly how my family has been, except I told them a year ago about it. Very stupid

>> No.5760168

>>5760123
Listen to your mom. The IRS found out about all my money i made from my minecraft server

>> No.5760174

>>5760123
as of this year shes right tho

your mom is smarter than you

>> No.5760232

>>5760168
How?Did you spend it?

>> No.5760262

fuck baby boomers

>> No.5760284

>>5760123
>worrying about IRS
TOPKEK
>>5554083

>> No.5760287

My parents wouldn’t even understand the idea of cryptocurrency. If I’m ever going to make it, I’ll just give them money and tell them nothing about the source.

>> No.5760319

>>5760168
>IRS found out about all my money i made from my minecraft server
you put the cuckbuxx into your bank account didn't you, idiot?

>> No.5760357

>>5760123
Fucking underage virgins hiding crypto from mom.

>> No.5760383

>tell my mom

Found what you did wrong

>> No.5760408

>>5760284

BITFLUR IS AN IRS SCAM. DON'T USE IT UNLESS YOU WANT TO BE FUCKED BY BUBBA

>> No.5760418

>>5760123
Ask your mom what REALIZED gains are.

>> No.5760495

Uh, you do have to pay capital gains kiddo.

>> No.5760538

>>5760284
>>5746605

total scam by tony dumper niggers

>> No.5760556

>>5760123
Told my dad about the ridiculous CGT in my country and what I'd have to pay if I hit my target.

His response: "How the fuck are they gonna find out?"

>> No.5760611

>>5760123
eh going to jail for 5 years is worth it to come out a billionare

>> No.5760874

>>5760319
no paypal reported me to them

>> No.5760901

>>5760874
>paypal
you dumb fucking nigger

>> No.5760988

>>5760168
how the fuck do you make money with minecraft?
is making money with games taxable? wtf?
I made some money selling wow gold.

>> No.5761023

>>5760123
>Telling people about your crypto

You dont do that until its 5 years from now and you are are retired.

>> No.5761060

>>5760988
>I made some money selling wow gold.
prepare your anus

>> No.5761069

This type of shit is why I can't wait for crypto to be used as actual currency instead of a speculative market. The only reason they can do anything is because people withdraw from crypto and deposit cash to a bank.

>> No.5761482

>tell parents my crypto portfolio went from 700 to 5000
>start moaning about me needing to cash out to a foreign bank account to keep the money safe

Could be worse, but what exactly is their logic here? First off cashing out exposes you to the risk of being detected. Secondly, cash out into what? FIAT that does nothing but lose value? 5k isn't enough to buy real estate, and anything I take out isn't going to make me any money. Why would I ever sell coins which are mooning and will moon more massively in the coming months?

>> No.5761597

>>5760901
>>5760319
Ok, so if you don't cash out via paypal or bank account, how are you supposed to get it and avoid IRS?

>> No.5761702

>>5761597
localmonero

>> No.5761996

>>5760901
Paypal was the only option man

>> No.5762034

>>5760988
Yeah I sold ingame perks/ranks and stuff. Made over $100k

>> No.5762105

Next time pay the IRS their shitty 30% and don't get butt fucked.

>> No.5762115

tfw not a americuck

>> No.5762123

>>5760988
>>5762034
you underestimate what microtransactions parents will tolerate to get their kids to shut up and play with the computer more

>> No.5762173

never tell anyone about crypto unless you already cashed out

>> No.5762237

>not having chad parents

>dad, w-wanna invest a couple grand in this new thing antshares with me
> couple grand? take 15k otherwise it's not worth the risk

>> No.5762676

>>5762034

What happened to you?
Did you just get a letter in the mail?

I'm filing my taxes for this year but my #1 worry is that I'm going to do it incorrectly (I've got 1000s of trades and didn't understand the implication of making micro trades between alts 20 times a day). I've paid for bitcoin.tax and contacted my CPA so fingers crossed it all comes out correctly. The tax laws surrounding crypto are archaic and make it difficult for willing participants to pay fairly.

>> No.5763093
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5763093

>>5762237
the virgin father. the chad dad.

>> No.5763107

>>5760123
Ask if she gives you a fee blowjob does that count as negotiable value and capital gains.

>> No.5763190

>>5762237
Holy fuck your dad is a sick cunt

My parents are pretty cool too.
>Don't stay up all night anon
>Oh, unless you're going to be up all night making money :^)

They don't have enough money to take risks though or else they would.

>> No.5763633
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5763633

>>5760123
I told mom now shes got me investing for her and she gets mad when i make a lot of gains and she isnt making much.
Bought something for her that made her $300 overnight but it wasn't enough cause i made $1200 even though i invested far more.

Why cant she just be proud of me?

>> No.5763698

Told my mum and she wanted to give me £100 for my investment of choice. 200 linkies it is then